Digital& NFT

New Multi-Billion $$$ Fund Launched for Crypto/Web3

Anyone tracking technology stocks, risk assets and cryptocurrencies knows that 2022 has seen a rough first half of the year. Some investors are buyers into significant weakness if they still believe in the long-term opportunities. Others panic, but having buyers and sellers is what makes a market. And speaking of buyers, particular buyers after a huge drop that has he market indexes teetering on a formal bear market, the a17z crypto group in launching Crypto Fund 4.

These Index Prices Will Confirm the Bear Market in All Major Indexes

Bitcoin, Ethereum and other crypto themes within a broader digital asset class woke up Wednesday morning to the news a new $4.5 billion fund is being launched. a16z crypto is tied to the very well known Andreesen Horowitz venture and private equity group. This is after the price of Bitcoin and major cryptos are down over 50% from the November 2011 highs and after the heavily covered implosion of the TerraUSD “stablecoin” that proved to be not be so stable at all.

According to the a16z release, the group’s investments since 2013 will now equate to over $7.6 billion in total funds raised for crypto/web3 opportunities and investments.

a16z’s fourth crypto fund of $4.5 billion will be broken down with approximately $1.5 billion dedicated to seed investments and approximately $3 billion that is dedicated to venture investments. The group also specified the areas within web3, digital and crypto that it is most excited about as a hint of where the funds might be invested — web3 games, DeFi, decentralized social media, self-sovereign identity, layer 1 and layer 2 infrastructure, bridges, DAOs & governance, NFT communities, privacy, creator monetization, regenerative finance, new applications of ZK proofs, and decentralized content & story creation.

The group’s press release said:

Since the advent of computing in the 1940s, there has been a major computing cycle every 10-15 years, including PCs in the ‘80s, the internet in the ‘90s, and mobile computing in the ‘00s. We believe blockchains will power the next major computing cycle, which we call crypto or web3.

Most computing cycles have “golden eras” when the right mix — including new talent, viable infrastructure, and community knowledge — comes together. For example, with mobile computing, the golden era was 2009-11, when companies like Uber, Venmo, Snap, and Instagram were started. Golden eras are when legendary teams are formed, big ideas are hatched, and great products get built.

We think we are now entering the golden era of web3. Programmable blockchains are sufficiently advanced, and a diverse range of apps have reached tens of millions of users. More importantly, a massive wave of world-class talent has entered web3 over the last year. They are brilliant and passionate and want to build a better internet.

These are the main cryptocurrency levels for the morning of May 25, 2022:

Bitcoin was at $29,500

Ethereum was at $1,950

Tether was at $1.00

USD Coin was at $1.000

BNB was at $326.69

XRP (Ripple) was at $0.40

Cardano was at $0.51

Dogecoin was at $0.0826